FAQ

NFT stands for non-fungible token. They are a type of digital asset that represents ownership of a unique item, like a piece of artwork or a collectible. NFTs use blockchain technology, which allows for the creation of unique, one-of-a-kind digital assets that can't be replicated or replaced.

"Non-fungible" refers to an asset or item that can't be replaced or exchanged for an identical item. This means that non-fungible items are unique and have individual characteristics, making them distinct from fungible items such as currency (where each unit is interchangeable and holds the same value). Examples of non-fungible items include collectibles, art, real estate, and NFTs.

NFTs can be bought and sold on various online marketplaces, such as Magic Eden, OpenSea, and more. Some marketplaces specialize in certain types of NFTs, such as artwork or collectibles. You will need a digital wallet that supports the kind of cryptocurrency (Ethereum, Solana, etc.) used by the NFT collection you wish to buy.

NFTs are stored in a digital wallet, such as Phantom (Solana), MetaMask (ERC-20, Polygon), Trust Wallet, etc. They can also be stored on hardware wallets like Ledger or Trezor. It’s important to keep your wallet and its private keys secure to ensure that you have access to your NFTs.

No, NFTs are purely digital assets and do not have a physical component. The value of an NFT comes from its uniqueness and ownership verified by blockchain technology.

NFTs are unique and one-of-a-kind, while other digital assets like jpeg images or mp3 files can be replicated and replaced. NFTs use blockchain technology to verify the authenticity and ownership of the asset, while other digital assets do not have this level of security.

Any digital asset can be turned into an NFT, including artwork, videos, music, collectibles, and more.

The value of NFTs can be highly speculative and volatile, and like any investment, there is a risk involved. It's important to do your own research (DYOR) before making any investment decisions.